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Homegrown marijuana may seem like a good idea with legalization throughout Canada happening on October 17, 2018. Yes, it will be legal, but this doesn’t come without risk. Read on to see what the Globe and Mail has to say.

The national organization representing home appraisers is warning that growing cannabis at home will soon be legal, but it still comes with a risk.

The new law legalizing cannabis includes allowing Canadians to grow a maximum of four plants in their homes. Keith Lancastle, chief executive of the Appraisal Institute of Canada (AIC), is calling on the federal government to help educate homeowners on what he calls the dangers of growing at home.

“The challenge with cultivation of homegrown marijuana, is the ability of the plants themselves to get so large given the right amount of light and moisture,” Mr. Lancastle said. The impact of four cannabis plants is more akin to setting up a greenhouse for hothouse tomatoes, he says, than simply having four sizable houseplants. “Humidity is a byproduct of normal growth and it could well become an issue for the property. You either deal with moisture damage or potentially mould. If you had mould that ran amok … you hear the horror stories of people having to take houses right down to the studs and starting over again [for remediation] – although that would be an extreme case.”

Realtors, insurers, rental property owners and even some provinces have sounded off on the risks of homegrown marijuana in a residential spaces. Some have pressed for outright bans on the practice.

Alberta’s Boardwalk Communities, one of the province’s largest corporate landlords, recently banned not just growing but also smoking and even eating cannabis products in its apartments. The provinces of Manitoba and Quebec have included in their cannabis legislation provincial offences that would fine anyone who attempts to grow at home. The federal Minister of Justice, Jody Wilson-Raybould, has said the Liberal government would not take those provinces to court over their home-growing regulations, but said she couldn’t do anything about a private citizen choosing to contest those laws.

In Ontario, the cannabis bill introduced by the Progressive Conservative government focused on privatizing cannabis retailers, but it left aside the issue of homegrown marijuana.

“Our point of view is, let’s hit the pause button on legalizing grow-at-home operations until we have some foundational elements in place,” said Tim Hudak, president of the Ontario Real Estate Association and a former leader of the Ontario PC Party. Under Mr. Hudak, OREA has been lobbying hard to urge different levels of government to slow down the expansion of home cultivation until things such as home-inspector retraining and municipal registries for illegal grow operations can be increased.

He was unable to persuade the federal government to block tenants or owners in multi-residential buildings from home cultivation, but he hopes the Ontario government will join Manitoba and Quebec in an outright ban.

“There’s still a lack of clarity around how mortgages and insurance are going to work if you choose to grow marijuana in your home,” Mr. Hudak said. “And you can bet your bottom dollar that one of the first questions home buyers are going to ask, going forward, is if marijuana was grown in the home.”

Mr. Hudak also pointed to polling data from Nanos Research, which in a September, 2017, survey of 500 Ontarians found 60 per cent of respondents were “concerned” with the potential for property damage related to home-grown cannabis.

Mr. Lancastle says appraisers will have to tread a fine line in dealing with homes where cannabis is in cultivation. Appraisers are barred from sharing personal information about a homeowner discovered during a home inspection.

“The mere presence of marijuana could be considered private information and, therefore, should not be disclosed,” Mr. Lancastle said, citing directives the AIC has received from the Office of the Privacy Commissioner. There is one exception: “If there’s a detrimental condition – mould, water damage, so on and so forth – that is attributable to marijuana, it is acceptable to take a picture.”

One analogue for the kinds of personal or sensitive conditions appraisers would be able to report on might be a room with stripper poles or other acrobatic equipment.

“We’ve had situations where people have gone in and had trapezes and harnesses in the room and all sorts of toys,” said Mr. Lancastle. “If there’s a trapeze hanging from a joist and it’s clear it has caused buckling in the roof, that becomes something that’s a measurable adverse impact on the value, because there’s a cost associated with returning it to marketable condition.”

This stunning detached home is situated on one of the nicest streets in Leslieville.

The fantastic curb appeal is truly enhanced by the covered porch which features modern glass railings, pot lights and classic black and grey trims.

Upon entering 80 Hastings Avenue, you immediately connect with the open concept living space and how perfect it is for entertaining guests. Large windows with beautiful California shutters allow abundant natural light and the expanse of stylish engineered hardwood flooring creates a wonderful flow throughout the home.

There is a custom built workspace and wine rack as well as a walkout to the back deck and yard – ideal for summer barbeques. And not to be missed is the convenience of a nicely appointed powder room.

The second floor of 80 Hastings Avenue includes 3 bedrooms and 2 more bathrooms.

The same impressive engineered hardwood continues throughout this level as do the California shutters. Two of the bedrooms share the convenience of having access to a delightful and spacious 4 piece bath.

The master bedroom is beautiful with his and her closets, a large bay window and a stunning master ensuite appointed with a double sink vanity, stylish cabinetry and a large shower with a glass enclosure.

The lower level of 80 Hastings Avenue features a large well finished rec room, ideal for relaxing with popcorn and a great movie or sporting event.

There is also plenty of space for the kids to play. Down the hall is another room which could be used as a home office or a guest bedroom to suit your needs.

The backyard is gorgeous with trendy horizontal fencing, a generous deck and professionally landscaped gardens with impressive stonework. There is also 2 car parking with easy access off the laneway.

80 Hastings Avenue is just steps from fantastic schools, parks, shops, restaurants and public transit, there is so much to love about this wonderful family neighbourhood.

Move in and enjoy everything that this home and neighbourhood have to offer!

Not everyone has the foresight to start saving for a down payment from the time you’re handed your very first pay cheque. Nor does everyone have parents who are able to, or willing to help out with the lofty sum required to purchase your first home in Toronto. This is when co-ownership in Toronto starts to look like a great idea – and it can be! If you’re thinking about buying a home, have a look at our home buying guidelines. Here’s what The Globe and Mail has to say about two friends who purchased a home together in Niagara Falls:

When Shannon Beattie moved into her stately cul-de-sac neighbourhood in Niagara Falls with two other women, her suburban neighbours were wondering what was up. It’s not generally the kind of area where you have roommates.

But they aren’t quite roommates: Ms. Beattie is co-owning the home with a long-time friend and renting out their basement. Thanks to the living situation, she ends up paying $500 a month and gets much more space than her one-bedroom apartment in Toronto, which cost five times as much.

Co-owning is an idea that is starting to catch on as housing prices get further out of reach for new home buyers. Real estate agents and mortgage lenders say they’re seeing more people interested in the idea of splitting a mortgage among two or more people – but they do say that the living arrangement doesn’t work for everybody.

For Ms. Beattie, 34, and co-owner Dawn Vanier, 35, the idea came up while the two were thinking of the best way to buy a home in Niagara Falls, which is itself having a price uptick.

“What you can afford on your own is not a lot,” said Ms. Beattie, who added that Ms. Vanier was looking at moving from a massive 3,500-square-foot house down to a little townhome after a recent separation from her partner.

“We were talking about it over wine one night, and I said ‘what if we bought something together?’”

It started as a casual idea at first, but it turned into reality much quicker and easier than the two of them expected.

Today, the two have their own separate mortgages on the house, meaning that if one decides to sell, they can do so without financially penalizing the other. They live almost exactly like roommates, except that the house is large enough that the two always have their own space when they need it.

“We are roommates – when I refer to her, I say ‘oh my roommate said this or my roommate does that,’” Ms. Beattie said. “All it is, is you have to have much more serious conversations at times.”

Those serious conversations that helped develop their current living situation were aided by the fact that there were already mortgage sellers with experience in co-owning around them.

Meridian Credit Union Ltd., a financial organization that operates in Ontario, even has a mortgage option specifically tailored to co-owning. The company always offered creative mortgages, but they only started branding it as a co-owning mortgage in 2017 when they started seeing increased demand for it.

Jason Davenport, a branch manager at Meridian’s Greektown location in Toronto, said hardly a month goes by where he’s not organizing some sort of creative mortgage for clients. The unique living situations go on and on: two four-person families living together, parents helping their son or daughter buy a home, or just two friends going in on a house together. Sometimes the co-owners split a mortgage evenly, while other times co-owners allocate a part of the house to each owner and set the value of each section.

“This kind of living situation is not uncommon at all now,” said Mr. Davenport, who added that some clients have even asked if more than four people can split a home.

“Ultimately, in a high housing economy, we have to be creative to get access to these spaces.”

He’s been setting up co-owning mortgages for three years, and hasn’t seen any go sour yet. But he does say that a good co-owning situation needs to be preceded by probing conversations that can sometimes be uncomfortable.

“When you put it out, you say ‘this is going to be an awkward conversation for a second,’” said Mr. Davenport, who adds that co-owners need to share a lot: their personal financial information, their thoughts on the value of each part of the home, their plans for the future and what will happen when one person decides to sell.

“For a lack of a better term, it’s a prenuptial on what’s going to happen.”

Essentially, if you’re not able to make compromises, then a co-ownership in Toronto probably isn’t best for you.

“The one thing that’s true for anything shared is a notion of being able to be a little more fluid and little more flexible,” said Ms. Gaynor, who has co-owned a home with a friend in the past.

“You have to be able to say, ‘we’ve got a difficult conversation to have, but we’re invested in having it.’”

The payoff is immense when people find the right fit and have those fundamental conversations, she says. She’s seen seniors who are able to share a caregiver and have a better quality of life with more people around. She’s also helped two single mothers who were able to split daily errands such as picking up the kids from school.

Today, she runs a series of “speed-dating” co-owning events in Toronto where people come out and meet others who are looking for a similar shared living situation. It’s more of a lighthearted exercise aimed at helping people realize their own expectations in a co-owning situation, and Ms. Gaynor says more than 50 people showed up to the first event.

Ms. Gaynor says she’s seen a noticeable increase in interest to co-own, and adds that more people are coming to her with realistic plans in place.

With the money saved by living in Niagara, Ms. Beattie and Ms. Vanier were able to renovate their home and reap the benefits of a large house. GLENN LOWSON/GLOBE AND MAIL

Back in Niagara Falls though, Ms Beattie and Ms. Vanier are the only co-owners that they know of. It wasn’t until their story about co-owning was published in a local newspaper that people in their neighbourhood warmed up to them.

“People thought we were real strange when we told them what we were going to do,” Ms. Beattie says with a laugh.

“The neighbours when we moved in – you know two women, a third in the basement … they probably were like, what is going on here,” said Ms. Beattie, who said that the article helped clear things up.

“They’ve all come up to us after the article and said, ‘oh! So this is the situation.’”

There were some sacrifices that Ms. Beattie had to make as well. The hardest part is that she still works in Toronto a couple days a week, and the commute is not the greatest. But over all, the money saved means that they were able to renovate their home and reap the benefits of a large beautiful house. And because their monthly mortgage payment is so low, they’re able to enjoy everything about living in the Niagara region.

“We both drive around in Mercedes’, we go to wineries every weekend, we go out, it’s a nice life,” Ms. Beattie said.

“It’s kind of laughable that people want to interview me about something so simple. It works for us – it might not work for everyone, but I think you’ll see more of it in the future.”

If you’ve been waiting to buy a home, hoping for a Toronto house price crash, you could be waiting forever. We’re here to help navigate this tricky market, reach out! Here’s what a recent Huffington Post article has to say:

A recent poll found that half of Torontonians are hoping for house prices to fall, but a new report from Royal Bank of Canada basically says “don’t hold your breath.”

The modest price gains seen in Toronto and Vancouver in August are a “sign of things to come,” RBC senior economist Robert Hogue wrote in a client note.

After year-on-year declines for much of 2018, home sales in Toronto started rising again this summer. They were up 8.5 per cent in August, compared to the same month a year earlier, according to statistics released last week by the Toronto Real Estate Board.

After some downward pressure, prices appear to have stabilized. The average selling price for all housing types in Greater Toronto sat at $765,270 in August, up 4.7 per cent in a year.

“Area buyers hoping that last year’s Fair Housing Plan and this year’s stress test would bring about big price breaks will be disappointed,” Hogue wrote.

“In fact, several of them came to that realization earlier this summer (in light of steady month-to-month increases over the spring) and jumped back into the market.”

While that may be welcome news to homeowners worrying that the growth in the value of their homes has come to a standstill, it’s a disappointment to the half of Toronto residents who — in a recent Angus Reid poll — said they’d like to see house prices fall.

More than a quarter said they’d like to see an outright price crash, of 30 per cent or more. A majority of renters said they are considering leaving the citybecause of housing costs. That’s a sign of the frustration potential homebuyers are feeling in a market where house prices have long grown faster than incomes.

But though they hope for a correction, few poll respondents hold out hope it will actually happen. Sixty-two per cent agreed that government policy will not be able to make Toronto housing affordable “no matter what.”

Construction slowdown

Canada Mortgage and Housing Corp. reported a surprise decline in the number of new homes starting construction in August. The annualized rate of construction fell to just under 201,000 housing units, down from nearly 206,000 in July, according to data released Tuesday. Economists had been predicting a pick-up to around 210,000.

The largest pull-back was in Ontario, while British Columbia has seen a mild rebound, though construction is still below the frenzied pace of 2016 or 2017.

Economists expressed mixed views on the construction slowdown, with some saying the pace of construction is just returning to more sustainable levels from excessive heights.

“Despite two monthly declines, robust levels of residential construction continue in Canada, with a 27-year high for population growth supporting the strength,” Bank of Montreal senior economist Robert Kavcic wrote in a client note.

“While not all regions of the country have experienced the same price pressures as Toronto and Vancouver, many are seeing heightened building activity.”

But CIBC economist Royce Mendes suggested we can expect to see a somewhat slower housing market ahead.

“A more sluggish pace to homebuilding is in line with our expectation that higher interest rates and tighter lending standards turn this former stalwart of growth into a drag on the economy,” Mendes wrote in a client note Tuesday.

The 2018 Toronto housing market has been an exciting one, with ups and downs, we have stabilized through August. Here’s what the London Free Press has to say:

Toronto’s housing market kept its footing August as sales gained while prices were little changed, continuing to stabilize after a turbulent year.

Sales jumped 8.5 per cent to 6,839 in August from the same period a year ago, the Toronto Real Estate Board reported Thursday and were up 2 per cent on a seasonally adjusted basis from July. Average prices rose 4.7 per cent from a year earlier to $765,270 but benchmark prices, which measure the value of a typical home, fell 0.5 per cent from July to $764,800.

The housing market in Canada’s biggest city has been stabilizing over the past few months, following a sharp plummet earlier in the year after various government regulations were implemented to rein in prices. The market began to crack in April last year after a foreign buyers tax was put in place but has recovered much of the decline over the past few months.

“Many home buyers who had initially moved to the sidelines due to the Ontario Fair Housing Plan and new mortgage lending guidelines have renewed their search for a home and are getting deals done much more so than last year,” Garry Bhaura, president at the housing board, said in a statement.

Detached homes lagged other housing segments in August, with the benchmark price dropping 1.9 per cent from a year ago to $914,900. Meanwhile, condo apartments led the price gains, jumping 9.9 per cent from last August to $505,500.

“Despite the fact the sales remain off the record highs from 2016 and 2017, many GTA neighbourhoods continue to suffer from a lack of inventory,” said Jason Mercer, TREB’s director of market analysis. “This could present a problem if demand continues to accelerate over the next year, which is expected.”

New listings were up 6 per cent from a year ago to 12,166. Active listings rose 8.8 per cent to 17,864, from 16,419 last year.

What a beaut! This awesome 2 level loft in 150 East Liberty Street – Liberty Place has sold. Congratulations to our wonderful client and the buyer who will surely love this loft for years to come!

This two level condo is truly special with ample space for entertaining. The main level features a large front foyer, a beautiful kitchen with modern cabinetry, stainless steel appliances and a breakfast bar. The open concept living and dining area is spacious and filled with natural light. This space features a walk-out to the large south facing balcony where you can enjoy views of the lake and Liberty Village. There is also a powder room conveniently located on this level.

The second level includes a large den that is ideal for a home office.

The den leads into the spacious master bedroom which offers the same south facing views as the main floor. This level includes large closets and a wonderful master ensuite, plus the convenience of a laundry closet with a stacked washer and dryer.

This beautiful condo at 150 East Liberty Street is situated in the heart of Liberty Village.

The Village offers many great shops, restaurants, patios and bars all within walking distance. Underground parking is also included. This location allows for a quick drive to the financial district, the waterfront or to the Gardiner Expressway if you’re headed out of town for the weekend. Liberty Village is just minutes away from Toronto’s Entertainment District and world-class sporting venues such as Scotiabank Arena (formerly Air Canada Centre), BMO Field and Rogers Centre.

150 East Liberty Street features tons of wonderful amenities.

The amenities include a party room, fitness faciities and guest suites. Floor by floor, Liberty Place offers more with their lifestyle amenities. Two floors, dedicated to everything from working out to a detoxing steam, partying to escaping in a new book or surfing the net. The spaces are well-designed with comfort, convenience and your lifestyle in mind.

This two level condo is truly special with ample space for entertaining. The main level features a large front foyer, a beautiful kitchen with modern cabinetry, stainless steel appliances and a breakfast bar. The open concept living and dining area is spacious and filled with natural light. This space features a walk-out to the large south facing balcony where you can enjoy views of the lake and Liberty Village. There is also a powder room conveniently located on this level.

The second level includes a large den that is ideal for a home office.

The den leads into the spacious master bedroom which offers the same south facing views as the main floor. This level includes large closets and a wonderful master ensuite, plus the convenience of a laundry closet with a stacked washer and dryer.

This beautiful condo at 150 East Liberty Street is situated in the heart of Liberty Village.

The Village offers many great shops, restaurants, patios and bars all within walking distance. Underground parking is also included. This location allows for a quick drive to the financial district, the waterfront or to the Gardiner Expressway if you’re headed out of town for the weekend. Liberty Village is just minutes away from Toronto’s Entertainment District and world-class sporting venues such as Scotiabank Arena (formerly Air Canada Centre), BMO Field and Rogers Centre.

150 East Liberty Street features tons of wonderful amenities.

The amenities include a party room, fitness faciities and guest suites. Floor by floor, Liberty Place offers more with their lifestyle amenities. Two floors, dedicated to everything from working out to a detoxing steam, partying to escaping in a new book or surfing the net. The spaces are well-designed with comfort, convenience and your lifestyle in mind.

1101 Woodbine Avenue sold in less than one week in multiple offers after a busy weekend of open houses.

Congratulations to our client on the sale of 1101 Woodbine Avenue! This 2 storey semi detached home is perfect for entertaining with a separate dining room, large kitchen with breakfast nook, and a spacious back yard deck. The new owners will surely enjoy the remainder of the summer under the shade of the mature trees.

The dining room is bright and spacious with lovely engineered hardwood and a large window overlooking the enclosed front porch. The living room features the same engineered hardwood flooring, pot lights and a window overlooking the back deck. The modern kitchen includes stainless steel appliances, ample storage and counter space, California shutters and a large breakfast area which walks out to the spacious back deck.

The second floor features a large master bedroom with engineered hardwood flooring, plenty of closet space and a separate sitting area. The second bedroom on this level is also generous in size with a closet and a window overlooking the back garden. The 4 piece washroom on this level includes classic subway tiles and a charming claw foot tub.

The lower level of 1101 Woodbine Avenue is finished!

The finished lower level is an added bonus with a spacious room which can be used as either a bedroom or a rec room depending on your needs. There is also another 3 piece washroom on this level with the added convenience of laundry.

The backyard includes an expansive back deck as well as a lovely back garden which is fully fenced in.

1101 Woodbine Avenue is ideally located just minutes from the subway line for an easy commute as well as so many fantastic shops and restaurants along the Danforth.

This wonderful home has so much to offer.

The dining room is bright and spacious with lovely engineered hardwood and a large window overlooking the enclosed front porch. The living room features the same engineered hardwood flooring, pot lights and a window overlooking the back deck. The modern kitchen includes stainless steel appliances, ample storage and counter space, California shutters and a large breakfast area which walks out to the spacious back deck.

Perfect for summer barbeques and entertaining guests!

The second floor features a large master bedroom with engineered hardwood flooring, plenty of closet space and a separate sitting area. The second bedroom on this level is also generous in size with a closet and a window overlooking the back garden. The 4 piece washroom on this level includes classic subway tiles and a charming claw foot tub.

The finished lower level is an added bonus.

The lower level of 1101 Woodbine Avenue has a spacious room which can be used as either a bedroom or a rec room depending on your needs. There is also another 3 piece washroom on this level with the added convenience of laundry.

The backyard includes an expansive back deck as well as a lovely back garden which is fully fenced in.

1101 Woodbine Avenue is ideally located just minutes from the subway line for an easy commute as well as so many fantastic shops and restaurants along the Danforth.

We hope you’re having a great summer and enjoying this beautiful city! In an effort to keep you up to date and informed, we have prepared your Toronto Real Estate Update for Q2. Below you will find Toronto sales information for April to June, 2018.

Do you have a question about a specific sale on your street? Reach out and we’ll gladly give you all of the info, info@thurstonolsen.com

Are you curious to know what your home is worth? Give us call at 416.465.7850 and we will be happy to provide you with an opinion of value.

9,101 homes sold throughout Toronto. $865,161 is the average price of a home in Toronto.

2,462 detached homes sold throughout Toronto. $1,027,908 is the average price of a detached home in Toronto.

803 semi-detached homes sold throughout Toronto. $998,707 is the average price of a semi-detached home in Toronto.

4,906 condo apartments sold throughout Toronto. $603,480 is the average price of a condo apartment in Toronto.